How is my RRSP refund calculated?

Your contribution reduces taxable income, so your refund is the tax you would have paid on that income — at your combined federal + provincial marginal rate, computed on full progressive brackets.

Does contributing more always help?

Up to your contribution room, yes — and contributing enough to drop into a lower bracket boosts the marginal benefit. This calculator shows the effect on full brackets.

Is my income data stored?

No — everything stays in your browser on your device.

Calculators › Personal Finance & Tax › RRSP / 401(k) Tax-Refund Calculator

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RRSP / 401(k) Tax-Refund Calculator

Find out exactly what an RRSP or 401(k) contribution saves you. Enter your income, province or state, and contribution, and this calculator returns your refund using full progressive tax brackets — so it correctly shows when a bigger contribution drops you into a lower bracket.

Region

State / Province

Your income

Annual taxable income

Contribution

Amount you'll contribute

Estimated tax refund

CA$2,965

tax saved by contributing

Effective refund rate

29.65%

your combined marginal

The numbers

Taxable income — before	CA$95,000
Taxable income — after	CA$85,000
Total tax — before	CA$24,364
Total tax — after	CA$21,399

US$19.99 · download & own it forever

Prices in

✓ Includes the full toolkit. One purchase — this calculator already does everything these do, no add-ons: 401(k) Match Calculator · RRSP Contribution Room Calculator

How it's calculated

Federal tax is computed on full progressive brackets, so the refund catches a contribution that drops you a bracket.
Provincial/state tax is estimated at the marginal rate for your region — edit if your bracket differs.
Refund = tax before contribution − tax after contribution.
Canada uses RRSP rules; the US version models pre-tax 401(k) / Traditional IRA.

Our methodology & 2026 data sources →

Frequently asked questions

How is my RRSP refund calculated?: Your contribution reduces taxable income, so your refund is the tax you would have paid on that income — at your combined federal + provincial marginal rate, computed on full progressive brackets.
Does contributing more always help?: Up to your contribution room, yes — and contributing enough to drop into a lower bracket boosts the marginal benefit. This calculator shows the effect on full brackets.
Is my income data stored?: No — everything stays in your browser on your device.